DGAP-News: EuroGas AG / Key word(s): Corporate Action/Alliance EuroGas AG: EUROPEAN INVESTMENT-FUND FINANCED BILLION-LAWSUIT OF EUROGAS GROUP AGAINST THE SLOVAK REPUBLIC 06.11.2012 / 07:58 --------------------------------------------------------------------- EuroGas Aktiengesellschaft Zürich / Schweiz CH-300.3.016.275-3 Handelsregisteramt des Kantons Zürich ISIN: CH0104931073 - WKN: A0YA16 Zürich, den 6. November 2012 AdHoc - Information EUROPEAN INVESTMENT-FUND FINANCED BILLION-LAWSUIT OF EUROGAS GROUP AGAINST THE SLOVAK REPUBLIC We are pleased to announce that the EuroGas Group (EuroGas) has secured financing to pursue its previously announced legal action against the Slovak Republic for damages and interest relating to the illegal 2005 expropriation of the Gemerska Poloma talc mine, located in Roznava, which belonged to EuroGas 'affiliate, Rozmin s.r.o. The damage claim that will be presented before the International Centre for Settlement of Investment Disputes (ICSID) against the Slovak Republic is being prepared and EuroGas has notified the Slovak Republic of the pending action. In order to pursue this legal remedy, EuroGas had to obtain a financing in order to pursue its claim, a process that is expected to involve significant legal expense. On September 26, 2012 EuroGas entered into a financing agreement with a Luxembourg based investment fund (the Fund) that specializes in financing arbitration proceedings. After having examined the damage claim proposed by EuroGas and evaluating its prospects for a successful outcome, the Fund agreed to finance all legal costs related to the proceeding, confident in the merit of the claim. The damage claim against the Slovak Republic is based principally on the definitive ruling of the Slovak Supreme Court, issued on May based 18, 2011, which stated that the repeal of the license was illegal and fraught with numerous irregularities committed by the Mining Administration of the Slovak Republic. However, this decision has not been enforced, which has caused EuroGas to incur in excess of EUR 1,000,000,000 in damages. The Fund's financial backing of EuroGas will insure that it will have the means to vigorously pursue its damage claim before the international arbitration institution ICSID. Wolfgang Rauball Präsident des Verwaltungsrats EuroGas AG Zürich/Schweiz, Bahnhofstrasse 52 office@eurogas-ag.com www.eurogas-ag.com End of Corporate News --------------------------------------------------------------------- 06.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 191629 06.11.2012
DGAP-News: EuroGas AG: EUROPEAN INVESTMENT-FUND FINANCED BILLION-LAWSUIT OF EUROGAS GROUP AGAINST THE SLOVAK REPUBLIC
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